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Tuesday, Oct 22, 2002

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ICICI Bank offers `drivesmart' to fleet operators

Our Bureau

MUMBAI, Oct. 21

ICICI Bank has launched a chip-based credit card for transporters. The product, `drivesmart', is a fleet credit package for fleet-owners running goods and transport vehicles, the bank said in a release.

The scheme, similar to supplementary credit card packages, allows fleet-owners to issue credit cards for respective vehicles (pre-identified to the bank) in their fleet. The bank is offering 30 days credit on the card which can be used to purchase food and fuel and making toll payments. It said initially the product would be available at 35 outlets on the Mumbai-Ahmedabad highway.

ICICI Bank has tied up with Sodexho passes and HPCL petrol pumps to enable payments for fuel and food through the card. The fleet owner, who will have an overall credit limit, can divide it among his vehicles as daily credit limit.

The release quoted Ms Chanda Kochhar, Executive Director, ICICI Bank, as saying, "The fleet card is an addition to our smart card initiatives. It uses technology to address the specific transaction needs of the fleet-owners."

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